MOSCOW, May 29 (RAPSI) – Russian authorities are considering increasing the fines for illegally obtaining and disclosing commercial, fiscal or banking secrets up to 1.5 million rubles ($43,500). The relevant amendments to the Criminal Code have been published on the website of planned legislation.

Currently, punishment for these crimes includes a prison term of up to seven years and a fine of 80,000 rubles ($2,320).

The amendments are mainly designed to penalize banks that transfer information about clients to third parties. The Finance Ministry proposed increasing the fines for these offences to match the fines approved for business fraud under Article 159.4.

The smallest fine for the illegal collection of proprietary commercial, fiscal or banking information could be increased from 80,000 to 500,000 rubles ($14,500), and for disclosing this information from 120,000 rubles ($3,450) to 1 million rubles ($29,000).

In case of major damage or solely for financial gain, the fine could be increased from 200,000 rubles ($5,800) to 1.5 million rubles ($43,500).

According to the Supreme Court’s Judicial Department, 317 crimes punishable under Article 183 (illegal acquisition/disclosure of proprietary commercial, fiscal or banking information) were recorded in 2013. Thirteen people were found guilty, of whom two went to prison and five received a minor fine worth 50,000 rubles ($1,450).